Pennsylvania Trust Co lessened its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 113,904 shares of the pipeline company’s stock after selling 7,392 shares during the period. Pennsylvania Trust Co’s holdings in Enbridge were worth $4,455,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently modified their holdings of the company. Capital World Investors boosted its holdings in shares of Enbridge by 8.2% during the second quarter. Capital World Investors now owns 149,378,598 shares of the pipeline company’s stock worth $5,948,565,000 after acquiring an additional 11,294,003 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Enbridge by 0.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 46,491,107 shares of the pipeline company’s stock worth $1,945,188,000 after acquiring an additional 279,597 shares during the period. TD Asset Management Inc. boosted its holdings in shares of Enbridge by 3.4% during the third quarter. TD Asset Management Inc. now owns 44,896,840 shares of the pipeline company’s stock worth $1,871,055,000 after acquiring an additional 1,495,767 shares during the period. Capital International Investors boosted its holdings in shares of Enbridge by 7.8% during the third quarter. Capital International Investors now owns 41,164,593 shares of the pipeline company’s stock worth $1,721,048,000 after acquiring an additional 2,984,467 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Enbridge by 4.5% during the second quarter. Vanguard Group Inc. now owns 40,741,765 shares of the pipeline company’s stock worth $1,621,930,000 after acquiring an additional 1,758,679 shares during the period. Institutional investors own 62.16% of the company’s stock.
A number of equities research analysts have recently issued reports on ENB shares. Zacks Investment Research cut Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. GMP Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Bank of America began coverage on shares of Enbridge in a research report on Tuesday, January 9th. They issued a “neutral” rating for the company. Morgan Stanley dropped their price target on shares of Enbridge from $43.00 to $41.00 and set an “equal weight” rating for the company in a research report on Friday, November 17th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $54.00 price target on shares of Enbridge in a research report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Enbridge presently has an average rating of “Hold” and a consensus price target of $52.00.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. Enbridge had a net margin of 7.49% and a return on equity of 5.62%. The company had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $8.54 billion. During the same period in the previous year, the business earned $0.47 earnings per share. analysts predict that Enbridge Inc will post 1.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be given a $0.5278 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.31%. This is an increase from Enbridge’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Wednesday, February 14th. Enbridge’s payout ratio is presently 120.76%.
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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